Gold futures down 0.37 per cent on weak global cues

New Delhi: Gold prices fell 0.37 per cent to Rs 31,095 per 10 grams in futures trade on Monday as participants cut bets, tracking a weak movement overseas.

At Multi Commodity Exchange, gold for delivery in June was down Rs 116, or 0.37 per cent, to Rs 31,095 per 10 grams in a business turnover of 347 lots. Similarly, the metal for delivery in August contracts was trading lower by Rs 96, or 0.31 per cent, to Rs 31,321 per 10 grams in four lots.

Analysts attributed the fall in prices to trimming of positions by participants, tracking a steady trend overseas after recent gains. Meanwhile, gold dropped 0.10 per cent to USD 1,321.30 an ounce in Singapore.